Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

Joel Robinson

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

Office

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The first delivery of cross laminated timber columns, beams and floor panels have arrived at Brisbane Showgrounds for what’s set to be the world’s largest and tallest engineered timber office building.
The Bates Smart-designed tower, dubbed 25 King, stands at almost 45 metres across nine storeys and is being developed by Lendlease with a late 2018 completion date slated.
A world first in sustainable architecture, 25 King is targeting a 6-star Green Star Design and As Built rating which will use 67 per cent less electricity and 55 per cent less potable water and is targeting a WELL Core and Shell rating.
Tony Orazio, Lendlease Building general manager, said construction was well underway and the installation of the first pre-assembled modules are taking place.
“As the world’s largest and tallest engineered timber office building, 25 King will be one of the most exciting additions ever made to Brisbane’s skyline.
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“A key element of 25 King’s structure is the use of prefabricated modules for each floor. These modules are pre-assembled at ground height and then lifted into place to form what looks like a wooden lego structure,” said Mr Orazio. 
“The fascinating thing about building with timber is that its strength is akin to concrete and steel, it can be produced economically in a factory environment and most importantly boasts a plethora of sustainability benefits.”
The innovative building, owned by Impact Investment Group, will be the future home of global engineering firm Aurecon, whose services are being provided in the construction. They have committed to lease four of the nine office floors.
There is still around 7,900 sqm of office space remaining to be leased. 
25 King is Lendlease’s fifth engineered timber building in Australia and joins International House Sydney, Forte Apartments and Library at The Dock in Melbourne, and Jordan Springs Community Hub in Western Sydney. 
Lendlease is a partner in The Future Timber Hub, Australia’s leading timber research collaboration committed to challenging the barrier of timber construction by pursuing research-based strategies and innovation technologies to boost the timber industry.
Today Lendlease announced their half year 2018 results ending December 31 2017, with an after tax profit of over $425 million, up eight percent.
The results cited strong residential completions in apartments and land lots.
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Group CEO and Managing Director Steve McCann said Lendlease delivered resilient earnings for the period with a strong performance from the Development and Investments segments outweighing the underperformance in the Construction segment. 
“The strong performance of our Development segment was underpinned by the residential sector, with a 48 per cent increase in residential development completions and the launch of a residential for rent investment partnership with CPPIB4 in London.” 
“Recurring earnings and growth in underlying asset values drove a strong result in our Investments segment.” 
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jrobinson-rf4aSBido9

First timber arrives for the world’s largest and tallest engineered timber office building

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The family of the late magnate Nathan Werdiger, who founded Juilliard, are selling down.
The Australian reported the anticipated move could see more than $1 billion worth of real estate put in play.
Juilliard Group invests in the Australian commercial property market, specialising in CBD office spaces.
The company owns and manages a number of Melbourne CBD and suburban office buildings, certain semi-industrial sites and a regional shopping centre.
Some of the Juilliard Group's buildings in Melbourne CBD include 440 Collins Street (above) 535 Bourke Street, 459 Collins Street, and 574 St Kilda Road. 
The Werdiger family's Juilliard Group is ranked as one of the largest private landlords in Melbourne.
Philippa Kelly is the chief operating officer at the Juilliard Group. The business has been run by Nathan's eldest son Shlomo since the early 2000s.
Nathan Werdiger, who died in 2015, established himself as one of Australia's most successful businessmen in textiles and later property. He died aged 93.
Polish-born, Mr Werdiger and his brother Nechemia, two of six children, were the only family members to survive the Auschwitz "selection" process run by infamous Nazi doctor Josef Mengele, the "Angel of Death".
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In 1945 he was rescued, close to death, by the Allied forces from another notorious concentration camp, Buchenwald.
Werdiger recounted his times in Carolyn Ford's book Who Brought the Luck to the Lucky Country? 
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Werdiger arrived in Melbourne in 1949, aged 23, as a humanitarian migrant, joining his maternal uncle's family.
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j.ballantyne1990-6AQqhLzZaK

Juilliard family property jewels for sale

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Investa have completed the $8 million foyer refurbishment of one of their Sydney office buildings.
The new and improved foyer at 201 Kent Street was designed by Architectus and features a new cafe on the ground floor.
There are further plans for a potential new co-working space for tenants and guests.
While still in the planning phase, it is envisioned it will provide a range of different spaces to accommodate both collaborative and focused work, for individuals and teams, including event and meeting room space and a shared kitchen and break-out facilities.
Architectus associate Nigel Justins said it was important to create a lobby space that was both befitting of the building and in line with contemporary thinking on how a modern day office lobby should function
"By exploiting the inherent spatial qualities that had been largely concealed by the original fit out, it’s been possible to create such a space, utilising every opportunity to open up the lobby, connect it to its surroundings and allow it to become an active space," he said.
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Greater connectivity was achieved by extending the foyer further west, to take in views of the Grafton Bond building and Barangaroo beyond, with a new cafe providing activation and amenity for tenants. On Kent Street, the podium was extended, with the old façade replaced with contemporary, high performance structural glazing to enhance natural light into the space.
To provide greater visibility of the lobby from the street, a 5-metre-high celling void was opened up to significantly raise the height of the space. High-end, contemporary finishes such as travertine, granite and American oak are used throughout.
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The building is owned by Investa's flagship wholesale fund Investa Commercial Property Fund (ICPF).
Fund manager at ICDF Jason Leong said the owners recognised an opportunity to create value in the building by upgrading the street presence and ground plane, within the context of its wider surroundings, while activating the foyer with a new café and plans for a new co-working space.
"From the outset, our vision was to create a more connected, visible space, where both tenants and visitors could gather to meet and collaborate and I think we have exceeded expectations in this regard," Leong said.
201 Kent Street has a full-time concierge, a day spa and a range of time-saving services that tenants can access through Investa’s INSITE tenant portal, including dry cleaning, on-site car cleaning, bike repairs, catering and airport transfers. The 39,853m2 building accommodates a range of leading global companies, including AON, Arup and Crown Resorts.
 
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201 Kent Street refurb delivers revitalised Sydney office address  

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A fully leased office building in Sydney’s western suburb of Parramatta is about to hit the market.
The building, comprising five office floors and ground floor retail, occupies a prominent corner in the Parramatta CBD. 
The sale of <a href="https://www.realcommercial.com.au/property-offices-nsw-parramatta-501556991" target="_blank">75 George Street</a> will be through an international expressions of interest campaign closing November 8.
The marketing is being handled by Graeme Russell, Simon Fenn, Ian Hetherington and Ben Azar of Savills Australia on behalf of CorVal.
The property is heavily underdeveloped on a substantial 2,668 square metre site with 9,568 square metres of net lettable area (NLA). 
It is fully leased to five office tenants, two retail tenants and a car park operator. 
Major tenants include St George Bank, HCF and UniSuper. The building has a three year Weighted Average Lease Term (WALE), 4.0 Star NABERS Rating and a net passing income of circa $4,752,566 per annum.
According to Graeme Russell, development approval had been obtained to add nearly an extra 2,600 square metres of net lettable area by adding two extra floors to the existing building. 
It can also be land banked for a major redevelopment over the longer term.
“The existing improvements are high quality, fully leased and located on Parramatta’s best corner in the tightest major office market in the country. It all adds up to a compelling opportunity,” he said. 
Leading architects Fitzpatrick &amp; Partners have prepared a scheme to develop a 36-level building of circa 30,550 square metres, subject to council approval.
The twin-tower design of the building provides large floor plates of circa 1,856 square metres that are well suited to government and major corporations, who are the dominant occupiers in the Parramatta market. The floors also split into two pods easily and are sub-divisible even further if required.
The building has undergone recent refurbishment works including a new ground floor foyer.
Parramatta is the centre piece of the generational change occurring in Sydney’s western region, and has one of the tightest office markets, according to Savills.
Both the government and the private sector have invested in major infrastructure projects in the area as it transitions into “Sydney’s second CBD”. 
Prime grade vacancy has fallen to zero and overall vacancy is the lowest of any major market at 4.3%, according to research by Savills Australia. 
Further, 133,000 square metres of major pre-commitments have been announced, with all of these tenants relocating to Parramatta from the Sydney CBD.
The lack of good quality office space available for lease is driving rental growth in the market, said Savills' Simon Fenn.
“The economic rents associated with the new office projects are setting high rental benchmarks. Existing office owners in the area are benefiting, as rents for existing office stock are naturally dragged up or reflect attractive value compared to new builds” he said.
Sydney’s west is forecast to facilitate the majority of population and employment growth. The region’s population is predicted to increase by 52% between 2011 and 2036 with employment predicted to grow by an equally as impressive 55% over the same period. 
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jonathanchancellor-7SQnKwU6yx

Fully leased Parramatta office building set to hit the market

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Hong Kong retail group Glorious Sun has acquired an entire office building on Melbourne's city fringe for $42 million.
The property at <a href="https://www.realcommercial.com.au/property-offices-vic-melbourne-502516710" target="_blank">324 St Kilda Road</a>, near Dorcas Street, was bought from the WA-based investment manager Lester Group.
The fully leased eight-level building has tenants including Wesfarmers with a weighted average lease expiry of five years.
With its net annual income of about $2.45 million, the early 1980s building sold on a yield of 5.8 per cent.
"The implementation of the Melbourne Metro Rail Project has improved confidence in the St Kilda Road area, resulting in increased momentum from investors in the precinct due to expected upward pressure on rents from the significant infrastructure project," JLL's Langton McHarg said.
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<div>Vacancy has been tightening on St Kilda Road with eight office blocks withdrawn from the St Kilda Road office market over the last five years totalling 71,693 sq m, leaving 672,950 sq m in available stock, JLL Research shows. Four more are likely to be withdrawn over the next two years, JLL suggests.</div>
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St Kilda office building snapped up by Hong Kong retail group for $42 million

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Cbus Property has now leased more than 40% of its $1.25 billion Collins Arch development at 447 Collins Street.
Its latest deal for almost 20,000 square metres including a third tenant for the mixed-use precinct.
Top 10 Australian law firm Gadens has secured 5,000 square metres of NLA commercial space over levels 11-13, equating to just over 10% of the 49,000 square metres available.
More than 40% of the leasing space is now committed, with Gadens joining King &amp; Wood Mallesons (KWM) and HWL Ebsworth.
KWM secured 8300 square metres across levels 23 to 27 in June, with HWL Ebsworth securing 6500 square metres across levels eight to 10 in October.
The commercial space lies in the western tower of Collins Arch.
The development will also house a five-star hotel in the eastern tower with a luxury residential component above crowned by two luxury penthouses and resident amenity linking the dual towers across Melbourne’s first sky bridge.
Taking up the entire city block between Collins Street, Williams Street, it has been designed by Woods Bagot and SHoP Architects.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2016/12/20/Cbus%20Property_Collins%20Arch_view2.jpg" alt="">
Colliers national director of office leasing Andrew Beasley said the 447 Collins St address resonated internationally.
”The view south across Melbourne’s Yarra River and Port Phillip Bay and Collins Street-facing northern vista are just part of what makes Collins Arch a major drawcard,” Beasley said.
Construction has commenced on <a href="https://www.collinsarch.com" target="_blank">Collins Arch</a>, with completion due in 2019.
Expressions of interest are currently being accepted for both commercial leasing and the luxury residential apartments, including two sky bridge penthouses.
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Collins Arch, Melbourne signs up third law firm office tenants

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Solomon Lew’s Premier Investments has secured 457 St Kilda Road, Mebourne.
The vacant building fetched $55 million in a contest with residential developers for space on Melbourne’s premier boulevard.
The deal was negotiated by Teska Carson in conjunction with CBRE.
St Kilda Road has been the subject of many recent news stories, most recently regarding conversions to residential with tens of thousands of square metres of office stock withdrawn in the last 12 months alone.
Located in St Kilda Road’s Fawkner Park precinct, the property comprises 9349 square metres of office space over eight stories with 119 parking bays on a 3035 square metre site.
Recently vacated by Computershare subsidiary, Serviceworks Management, the property attracted 10 expressions of interest.
The property was last sold in 2002 also through Teska Carson for $23,250,000. The vendor was a private investment group.
In the mid-1990s, 457 St Kilda Road was part of the Norwich Union portfolio.
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Solomon Lew secures 457 St Kilda Road for $55 million

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A local investor has paid a premium to acquire an office investment in Cremorne for $1.85 million.
CBRE negotiated the sale on behalf of Melbourne fashion label, White Suede, with the sale subject to a two year leaseback.
Located at 47 Cubitt Street, the 271 square metre three-level office/showroom was offered to the market via a public auction campaign, however, the sale was negotiated prior to auction.
The competitive pre-auction bidding contributed to the price equating to approximately $11,600 per square metre over the land and $7,800 per square metre over the building.
 
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Boutique Cremorne, Melbourne investment snapped up prior to auction

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An office building at Braddon, ACT is currently up for sale, just seven years after selling at $44 million.
The A-grade property at <a href="https://www.realcommercial.com.au/property-offices-act-braddon-502120266" target="_blank">82 Northbourne Avenue</a> has striking architecture on the CBD fringe of Canberra.
The seven storey building is the latest to hit the market on Northbourne Avenue.
The highly visible structure is expected to sell for about $60 million.
<img src="/images/2016/10/03/82%20Northbourne%20Avenue.jpg" alt="">
The building was designed by architects BVN and occupied by the Australian Maritime Safety Authority.
The land is 2090 square metres with a floor area of 7,001 square metres, plus it includes basement parking.
The building is offered through joint agencies Colliers International agents Tim Mutton and Paul Powderly and Raine &amp; Horne Commercial Canberra agents Nick Cotis and Frank Morella.
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Braddon office building tipped for $60m plus sale 

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A five level Cremorne office complex is up for sale ahead of its expected completion in 2017.
The property at <a href="https://www.commercialrealestate.com.au/property/16-dover-street-cremorne-vic-3121-2013091281" target="_blank">16 Dover Street</a> has floor spaces available with offices ranging from 65 square metres to 790 square metres, all with external terraces included.
There is also a secure onsite car parking available per office with the optional choice to add more car spaces for a cost.
The Bialkower family is selling the strata office space off the plan in a $7 million development having previously focused on industrial projects.
<img src="/images/2016/10/03/16%20Dover%20Street.jpg" alt="" style="font-size: 12.16px; line-height: 1.3em;">
It has been marketed as "the perfect SMSF purchase suitable for businesses with three to 70 staff members".
For a limited time stamp duty savings and tax benefits are available through CBRE.
It was previously a <a href="https://www.realestate.com.au/property/16-dover-st-cremorne-vic-3121" target="_blank">warehouse</a> prior to its redevelopment.
Figures compiled by CBRE show strata office values in Melbourne have risen 10 per cent to 15 per cent in the last year to range from $7000 to $11000 per square metre, making them comparable with the returns achieved on residential apartment developments.
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